The Disruption of Regulatory Compliance Technology Is RegComTech®
- RegComTech® helps firms to automate the regular compliance tasks and reduce operational risks associated with GRC activities and disclosures. RegComTech® empowers the compliance functions to make informed risk choices based on data, insights and intelligence on measuring, managing, mitigating and monitoring GRC risks.
- RegComTech® allows leveraging existing systems and data to produce regulatory data and reporting in a cost-effective, flexible and timely manner either without taking the risk of replacing/updating the entire range of legacy systems or by just consolidating/replacing the huge number of standalone systems.
In both situations, RegComTech® can ensure the extraction of clean, accurate, secure and timely data that can be deployed by businesses in the most constructive way.
Extension of regulatory compliance disruption
RegComTech® simply uses the Regulatory Compliance to the use of new technology to facilitate the delivery of regulatory requirements. RegComTech® provides agile, arranged, assimilated, intelligent, resolute, secure and cost-effective regulatory solutions
Due to the vast resources and costs to comply the combined services of regulation and technology was inevitable. As the overload, overreach or the increasing levels of regulation raises the focus on data and reporting also increases.
Why is RegComTech® important?
The disruption involves the use of real-time GRC information, and incorporation the use of algorithms, analytics and biometrics to transform how e.g. customer due diligence is done, how anti-fraud measures work and how banks filter the good, the bad and the ugly in an AML/KYC issues in suspicious activity reports.
Ten advantages of RegComTech® approach to streamline GRC
- RegComTech® is leading the charge on disrupting ineffective and outdated processes of regulation and compliance
- AML/KYC checks combined with the use of social media will automate the due diligence processes by using tailored data to the company’s risk-based approach
- RegComTech® refers to a set of GRC solutions that address regulatory challenges through technology across industries, including financial services
- RegComTech® solutions are agile by nature due to the complexity and power of regulatory transitions
- RegComTech® is cloud-based, which enables solutions to maintain, manage and backup data remotely, having it timely secured
- RegComTech® significantly cuts the costs both for providers and clients.
- RegComTech® agility leads to great flexibility and speed, which ensures a high level of control over information
- RegComTech® regards safety, security, encryption in all deployed solutions
- RegComTech® reduces the implementation time, enabling businesses to streamline complex regulatory compliance and focus on business goals.
- RegComTech® addresses the gap in a disrupted and speedy pace by taking a deep dive in an efficient way to address compliance.